Theory to the Rescue of Large-scale Models: Edmond Malinvaud's Alternative View on the Search for Microfoundations

Matthieu Renault

No 2020-27, GREDEG Working Papers from Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France

Abstract: Edmond Malinvaud's case is peculiar in the history of Macro as he committed to two different microfoundational programs, namely the disequilibrium theory (more properly, the non-Walrasian approach) and the practice of large-scale macroeconomic modeling. Such a twofold commitment was far from anecdotal because Malinvaud regarded these programs as fully compatible. The search for microfoundations he promoted did not aim at reconsidering the autonomy of Macro. It was instead subject to the condition of being connected and oriented towards the needs of large-scale models. The best illustration was Malinvaud's own contributions to the non-Walrasian approach throughout the 1970s and 1980s, by which he intended to rationalize and improve the practice of French large-scale modeling.

Keywords: History of Macroeconomics; Microfoundations; Disequilibrium Theory; Large-scale Models; Edmond Malinvaud; Lawrence Klein; New Classical Economics (search for similar items in EconPapers)
Pages: 42 pages
Date: 2020-06, Revised 2021-04
New Economics Papers: this item is included in nep-hpe and nep-mac
Note: To request an electronic copy of this paper, please email the author at matthieu.renault1@gmail.com
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Forthcoming in History of Political Economy

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gre:wpaper:2020-27

Access Statistics for this paper

More papers in GREDEG Working Papers from Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France Contact information at EDIRC.
Bibliographic data for series maintained by Patrice Bougette ().